Mr. Eric Zaunscherb reports

GR SILVER MINING ANNOUNCES LOSS OF PRESIDENT, CEO, AND FOUNDER, MARCIO FONSECA

Marcio Fonseca, GR Silver Mining Ltd.'s president, chief executive officer and director, has suddenly passed away. Mr. Fonseca was not only a founder of GR Silver Mining, but also an integral part of the company's management team and operations team in Mexico, a friend and a mentor. Mr. Fonseca spent his entire career, spanning over 30 years, working in the mining and mining finance sectors. Mr. Fonseca was a long-standing member of the Association of Professional Engineers and Geoscientists of the Province of B.C., as well as the Australasian Institute of Mining and Metallurgy.

Executive chair Eric Zaunscherb commented: "Our hearts are heavy today with the passing of our dear friend and colleague Marcio. Our deepest condolences go out to Marcio's close family and friends in this time of immense sadness. Marcio did everything with absolute passion and integrity. His big heart and dedication radiated through our company. Marcio is a great example of true and honest leadership to all of us in the mining industry, and we will miss him greatly. One of Marcio's legacies is a talented team of explorationists and administrators in Canada and Mexico that will continue to make him proud as we move the company forward."

The board of directors of GR Silver Mining has appointed Mr. Zaunscherb interim president and interim CEO. Mr. Zaunscherb previously served as the company's CEO from Feb. 28, 2022, to June 30, 2025.

About GR Silver Mining Ltd.

GR Silver Mining is a Canadian-based, Mexico-focused mineral exploration company engaged in cost-effective silver-gold resource expansion on its 100-per-cent-owned assets, located on the eastern edge of the Rosario mining district, at the border of Durango and Sinaloa states, Mexico. GR Silver Mining controls 100 per cent of the Plomosas project, including the former Plomosas underground mine and wide, high-grade silver mineralized zones at the San Marcial area. Recent discoveries in the 78 square kilometres of highly prospective, advanced-stage exploration concessions position the company well for resource expansion at the Plomosas project.

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